Strategy PP Variable xStock (STRCX) is 1.4× the size of SanDisk (bStocks Tokenized Stock) (SNDKB) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.09 across 57 shared trading days). SNDKB has been the more volatile of the two, at 124% annualised against STRCX's 51%.
$1,035.19
$109.7000
SNDKBSTRCX
-0.09over 57 shared trading days
Measured on daily returns rather than on prices. Two assets that both simply trend upward score near 1.0 on raw prices whether or not they move together, so returns are what answer the question people mean by correlation.
| Metric | SNDKB | STRCX |
|---|---|---|
| Max drawdown (400d) | -56.5% | -7.5% |
| Risk-adjusted return (90d) | -0.10 | 0.16 |
Relative strength over 90 days: STRCX outperformed SNDKB by 41.9% — measured on the SNDKB/STRCX ratio, so it holds regardless of market direction.